Read more: http://www.ehow.com/info_8793085_irs-onetime-exemption-selli
Homepath is a process where you may buy a home in need of extensive repair. You need to be able to do repair yourself or have licensed contractor do. Many mortgage companies can help you with a 203k if you want to finance repair in with your mortgage. I read the other responses and they are all good and have great information. Contact a Realtor and have them help you in your decision making process. Thanks, RK Waldren
If you qualify, you can move forward with the smaller home. Just make sure it's contingent on getting financing, leasing your current property, or better yet, both.
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